News of Iran's restrictive draft plan for the Strait of Hormuz sent oil prices higher, renewing concerns over supply disruptions.

Iran’s parliament is reviewing a draft plan to reopen the Strait of Hormuz, according to Fars, an Iranian news site. The proposal reportedly includes banning vessels from America, Israel and “hostile” countries from transiting the waterway,

Iran’s leaders have perplexed several American presidents, perhaps none more than President Trump. By Michael Crowley Michael Crowley covers the State Department and U.S. foreign policy. He has reported from nearly three dozen countries.

Crude oil prices rose Thursday after Iranian state news published a draft plan with restrictive conditions for ship traffic in the Strait of Hormuz.

SINGAPORE, Aug 7 (Reuters) - Shipping traffic through the Strait of Hormuz has dwindled to 33 vessels from Monday to Thursday this week, data showed, versus 50 in the week-ago period, as markets watched talks between Iran and Oman for signs of progress in reopening the key waterway.

Diplomatic efforts to reopen the Strait of Hormuz are gaining momentum, with Iran saying talks with Oman are progressing “positively”. US Secretary o

The conflict is broadening across the region, with Gulf energy infrastructure and key shipping chokepoints under renewed threat.

Saudi Arabia is bracing for a “multiple coordinated attacks” by Iraqi militias factions and Iran-backed Houthis, a Saudi official told CNN, as the broader Middle East conflict threatens to widen.